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Soleil Securities Reiterates a 'Buy' on NII Holdings (NIHD)

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November 24, 2009 8:58 AM EST

Soleil Securities reiterates a 'Buy' on NII Holdings (Nasdaq: NIHD), price target $40.

Soleil analyst says, "Our recent channel checks show NIHD is on-track to generate strong subscriber growth in Brazil, while Mexico is exhibiting positive trends...NIHD continues to benefit from an expanded footprint in Brazil and stabilization in the economic environment in Mexico.The recent launch of several new handsets is also having a positive impact on subscriber trends. Initial spectrum auction rules were published yesterday, which should allow the auction to take place in early 2010. We believe the commencement of the auction process could represent a positive catalyst for the stock."

To see all the upgrades/downgrades on shares of NIHD, visit our Analyst Ratings page.

NII Holdings, Inc. (NII Holdings) provides digital wireless communication services primarily targeted at meeting the needs of business customers through operating companies located in selected Latin American markets.